Agilent Technologies Reports First Quarter 2011 Results: EPS of $0.54

Agilent Technologies Inc. A today reported revenues of $1.52 billion for the first fiscal quarter ended Jan. 31, 2011, 25 percent above one year ago, or 19 percent excluding the effects of the Varian acquisition and recent divestitures(3). First-quarter GAAP net income was $193 million, or $0.54 per diluted share. Last year's first-quarter GAAP net income was $79 million, or $0.22 per share. During the first quarter, Agilent had intangible amortization of $28 million, Varian-related integration costs of $19 million, and restructuring charges of $13 million. It also recognized a tax benefit of $41 million. Excluding these items, Agilent reported first-quarter adjusted net income of $212 million, or $0.60 per share (1). Bill Sullivan, Agilent president and CEO, said, “We had an excellent start to the year as we continued to demonstrate the strength of our product portfolio. All regions throughout the world posted double-digit organic revenue growth.”